All Forum Posts by: Eric M.
Eric M. has started 6 posts and replied 102 times.
Post: Property Management - HUD Subsidized Project Based Section 8
- Investor
- Weston, WI
- Posts 105
- Votes 114
Joe Quance at ABC rental is fantastic.
joe at abcrentalmanagement.com
I am using them to manage my 8 plex and have been happy
Post: need to raise $50,000 to purchase a 26 unit apartment complex
- Investor
- Weston, WI
- Posts 105
- Votes 114
It won't get you all the way there, but if you close after the first of the month you may be able to get prorated rents. For example if you are collecting $20,000 a month in gross rents and close on the second of the month you would get credited 29/30 of$20,000 which would go a long way towards your 50k that you need.
Post: Growth Equity Group - How 170+ investors were scammed
- Investor
- Weston, WI
- Posts 105
- Votes 114
I'm curious about your property. What did you end up doing with it? Did you walk away? Do you still own it?
Post: Greater Madison Wisconsin Investment Opportunity
- Investor
- Weston, WI
- Posts 105
- Votes 114
I'm interested in learning more
Post: First large multi family property
- Investor
- Weston, WI
- Posts 105
- Votes 114
Congratulations @Matthew Neal!
Will you share some of the details on the property? How did you find it? What class is it? What do the numbers look like? How are you financing it? What did the negotiation look like?
Post: Cheyenne, WY 7 Unit Apartment Complex
- Investor
- Weston, WI
- Posts 105
- Votes 114
Oh no! What happened?!?
Post: 806 N. 80th Terr. Kansas City, KS
- Investor
- Weston, WI
- Posts 105
- Votes 114
Monthly Rent: $1,200.00
Property Taxes: $84.00 a monthVacancy: $60.00 a month(5%)
Insurance: $50 a month
CapEx: $60 a month(5%)
Management Fee: $96 a month(Management Company: HomeRiver Group, can be moved to your own choice)
SFH, large fenced in yard, new roof, HVAC, brand new kitchen and appliances, and bathrooms.
All utilities in tenants name
Currently 6 months remaining on lease
Please email Adam at [email protected] for more information on this home.
Post: Ep. 279: Finding Opportunities in a Hot Market w Andrew Cushman
- Investor
- Weston, WI
- Posts 105
- Votes 114
@Brandon Turner and @David Greene,
Bring on the Weird Al Real Estate Parody. You Promised.
Post: Heloc to pay off mortgage faster
- Investor
- Weston, WI
- Posts 105
- Votes 114
You're right, I'm probably not good enough with spreadsheets to prove it in that way. But that doesn't mean I'm wrong.
Joshua, It's OK if you can't come up with your own spreadsheet, but you have to at least show us where Chris made an error in his calculations. It seems that you keep trying to use "logic" for your arguments instead of math. If you can't come up with your own calculations which show that your method is superior AND you cannot show us where Chris has made a mistake in his calculations, I cannot see how you expect anyone to be persuaded by your arguments.
Post: Tenant lost security deposit check (the refund)
- Investor
- Weston, WI
- Posts 105
- Votes 114
Originally posted by @Donald S.:
Originally posted by @Jeremy Paschedag:
Curious, why give them a cashier's check/money order to begin with? Why not give them a regular check?
This was an inherited tenant on a new property, and the checks for the bank account I set up for this building hadn't come in yet. I wasn't going to give them cash for in case they claimed I never gave it to them. And Cashier's checks are the next best thing to a check since the money comes out of my account immediately so I don't have to worry about it getting pulled at a later date when I might not have enough cash in there. Since these were inherited tenants, we received a credit on our closing for their sec deposits, and hadn't gotten around to separating the money into a savings account for that.
FYI in the future you can ask the bank for a "counter check" if you are out of (or have not yet received) your checks. (More info on counter checks)